Who Benefited Most From Twitter’s Hacked Accounts?
A brief look at cybersecurity stocks
Most of us came across strange tweets from prominent users like Barack Obama, Joe Biden, Elon Musk, and Bill Gates on July 15th, 2020. “I am giving back to my community due to COVID-19,” the majority of the tweets said. These tweets came from verified accounts — the ones marked with little blue checkmarks that tell you the person tweeting is actually them. Little did we know that those tweets came from hackers who were able to access Twitter’s internal tools.
According to reports, it did not take long to discover these tweets and flag them. Unfortunately, the hackers were able to pocket more than one hundred thousand dollars from the tweets. On July 31st, a Florida teen named Graham Clark was arrested along with two others for being the mastermind behind the hacks. Allegedly, Clark got into Twitter’s system by pretending to be a member of their IT team. According to Twitter, this is the worst breach in its history. Now users are left wondering about platform security.
But the hackers themselves weren’t the ones who benefited most from Twitter’s security breach. Companies like Crowdstrike and CyberArk are also reaping in the rewards. Crowdstrike is a cybersecurity technology company based in Sunnyvale, California. It is reported that the company’s shares experienced an upward trend after the hack and they have been named the best cybersecurity investment by Nasdaq. In CyberArk’s case, they offer privileged account security, alerting users when any changes are made to their accounts. After a rough few months, CyberArk is also experiencing renewed interest. Both companies’ cybersecurity services are boosting them in the stock market, which means this industry is proving to be a great investment as more and more people are eager to keep their private information safe and secure.
What do you think of the recent Twitter hack and the rise in cybersecurity stocks? Let us know down in the comments.
This article originally published on GREY Journal.
This article originally published on GREY Journal: https://discovergrey.com/hustle/finance/who-benefited-most-from-twitters-hacked-accounts/
